European stocks are down in negative territory a little past noon on Monday as lingering concerns about the outlook for economic growth, interest rates, and geopolitical situation continue to hurt investor sentiment, prompting them to lighten commitments.
Investors are also looking ahead to the European Central Bank’s monetary policy announcement this week.
ECB policymakers are likely to hold interest rates unchanged when they gather in Athens on Thursday.
The pan European Stoxx 600 is down 0.67%. The U.K.’s FTSE 100 is declining 0.61%, Germany’s DAX is down 0.82% and France’s CAC 40 is down 0.27%. Switzerland’s SMI is down with a loss of 0.65%.
In the UK market, Just Eat Takeaway.com, Fresnillo, TUI, Rentokil Initial, Anglo American Plc, Segro, Glencore and Antofagasta are down 2.5 to 4.7%.
BT, BP, Pennon, Persimmon, Centrica, AstraZeneca, Natwest and National Grid are also among the prominent losers.
Flutter Entertainment, Royal Mail and IAG are gaining 1 to 1.5%.
In the German market, Merck is declining 4.6% and Sartorius is down 4.3%. Siemens Energy, Vonovia, Volkswagen, Zalando, Infineon, Porsche, Fresenius Medical Care, Symrise, Adidas and Mercedes-Benz are lower by 1.4 to 3.2%.
Heidelbergement is rising 1.8%. Covestro is gaining nearly 1%.
In Paris, WorldLine is down nearly 7%. Teleperformance is declining by about 3.1%, and Renault is down 2%. Veolia, Engie, Alstom, Unibail Rodamco, STMicroElectronics, LVMH and Kering are also notably lower.
Thales and L’Oreal are up 1.3% and 1.2%, respectively. Eurofins Scientific, Bouygues, Safran and Stellantis are up with modest gains.
Market Analysis
European Markets Extending Recent Losses
2023-10-23 11:08:52
